Hello everyone please excuse me but I've searched for an answer and havent found one yet so I'll ask and if you can guide me to an answer then cool. I purchased the book and I read as one of the ways to come up with money for real estate if you have bad credit and no money is to find people that have offered seller financing on there property and see if they want to sell the paper for a discount so they can have cash now and you get a finders fee for hooking them up with a buyer. My question is how do I go about finding people with owner financed properties to see if they want cash now?
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There are some web sites specifically set up for trading notes.
But the best way is just to advertise.. Craigslist or the newspaper.
There are many companies that you can purchase leads from. The company that I have used in the past is Dunhill. I do know they have changed their name slightly but if you look up Dunhill in Google you should find them. Also, I worked with a specific person by the name of Pamela May. She actually left the company and started her own lead company. You could look for her also on Google.
The other most successful way to find leads is doing your own research. County courthouses record information about notes. Some counties do not disclose the information but most record the information. Smaller counties tend to have better leads you can find. The reason is because most lead companies and investors do not research smaller areas allowing you leads without competition.
Depending on how your courthouse / recorders office is set up you may be able to do the research online. Also, most courthouse / recorders offices do not have a list that you can take. Most of the time you will need to do the research.
You will want to look for mortgages and / or trust deeds depending on what instrument your state uses. What you are looking for is a private name or company that issued the mortgage. You are looking for the mortgagee, payee, or beneficiary. Sometimes you cannot find the beneficiary and have to settle with the trustee. Once you have their name you need to look for their address and / or phone number which may be done at the courthouse / recorders or assessors office.
Keep in mind that once you have the lead you will want to market to them about 5-6 times. Most people do not respond until the 4th to 5th contact. This is a simple ratio taught in Deans Automated Foreclosure Finder.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125